Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.033%

Price spread now: Deribit against HTX+0.061%7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$960.960% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.158%−$16 on $10k

Price spread, last 3 days (all we have)+0.036%+$4 · spread now +0.061%, 7d avg −0.040%

Together, before fees−0.122%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.102% dearer against HTX than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of −0.040%): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ENA-USDT	0.2118	0.0100	pay 0.0050% / 4h	22m 45s	$275K	$1.4M	50x
Short	Deribit ENA_USDC-PERPETUAL	0.2119	0	get 0.0000% / 1h	22m 45s	$92K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HTXbpFee DeribitbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$21
Price spread: +0.061% → −0.040%: $10.16
Slippage, 4 orders: −$76.98
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$106.81
Costs to cover: 0.960%
Break-even: never at this rate

Slippage from HTX: live order book, 1 min ago; Deribit: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy HTX live order book, 1 min ago	25.20 bp	35.9 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	7.56 bp	17.2 bp −$17	doesn't fit	doesn't fit	doesn't fit

ENA on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ENA_USDC	−0.0007%	4h	0.2118	0.000%	$41K	$24K	10x	as long as short
Deribit ENA_USDC-PERPETUALshort	0.0000%	1h	0.2119	+0.061%	$92K	$1.7M	50x
gTrade (Gains Network) ENA/USD	L +0.0003% / S −0.0003%	1h	0.2118	−0.023%	$97K	—	150x	as long as short
Backpack ENA_USDC_PERP	+0.0024%	1h	0.2119	+0.066%	$374K	$445K	5x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2123	+0.250%	$522	$57K	5.5x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2116	−0.099%	$61K	$524K	50x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2116	−0.085%	$678K	$1.8M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2117	−0.050%	$1.5M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2120	+0.069%	$410K	$562K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2119	+0.048%	$130.9M	$452.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ENAUSDT	+0.0100%	4h	0.2119	+0.061%	$89.0M	$189.8M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2121	+0.127%	$20.5M	$111.0M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2119	+0.061%	$15K	$404K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2117	−0.052%	$84K	$222K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2117	−0.076%	$89K	$500	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2117	−0.057%	$10.8M	$21.4M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2119	+0.057%	$46.5M	$45.6M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2119	+0.024%	$24.5M	$16.4M	75x	as long as short
Bitget ENAUSDT	+0.0100%	4h	0.2116	−0.109%	$48.0M	$64.0M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2117	−0.076%	—	$32.6M	—	as long as short
Variational Omni ENA	+0.0100%	4h	0.2123	+0.246%	$3.9M	$10.3M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2119	+0.056%	$252K	$7.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2127	+0.424%	$355K	$4.6M	10x	as long as short
ApeX Omni ENAUSDT	+0.0100%	1h	0.2121	+0.137%	$34K	$711K	50x	as long as short
Polymarket Perps ENA-USD	+0.0100%	1h	0.2117	−0.071%	$178K	$2.4M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2066	−2.469%	$1K	$825K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2119	+0.042%	$4K	$14K	10x	as long as short
HTX ENA-USDTlong	+0.0100%	4h	0.2118	long leg	$275K	$1.4M	50x
Phemex ENAUSDT	+0.0100%	4h	0.2119	+0.042%	$2.0M	$9.2M	50x	as long as short
Paradex ENA-USD-PERP	+0.0100%	8h	0.2120	+0.086%	$47K	$221	10x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2119	+0.030%	$78K	$11K	3x	as long as short
Phoenix ENA	+0.0189%	1h	0.2129	+0.510%	$7K	$347K	10x	as long as short
01 Exchange ENAUSD	+0.0192%	1h	0.2118	−0.009%	$4K	$302	10x	as long as short
Extended ENA-USD	+0.0208%	1h	0.2117	−0.068%	$1.6M	$4.2M	50x	as long as short
Kraken Futures PF_ENAUSD	+0.0241%	1h	0.2120	+0.110%	$2.7M	$5.4M	50x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0250% / S −0.0434%	1h	0.2117	−0.045%	$38K	—	100x	as long as short
BloFin ENA-USDT	+0.0340%	4h	0.2117	−0.076%	$5.6M	$5.9M	75x	as long as short
Reya ENARUSDPERP	+0.0412%	1h	0.2116	−0.114%	$1K	$5K	15x	as long as short
Lighter ENA	+0.0520%	1h	0.2122	+0.170%	$5.6M	$12.9M	10x	as long as short
Coinbase International ENA-PERP-INTX	+0.0552%	1h	0.2120	+0.076%	$837K	$2.1M	50x	as long as short
Hyperliquid ENA	+0.0764%	1h	0.2121	+0.127%	$114.2M	$78.3M	10x	as long as short
dYdX ENA-USD	+0.1640%	1h	0.2119	+0.027%	$140K	$15K	5x	as long as short